Gateway Investment Advisers LLC Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gateway Investment Advisers LLC lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 103.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,888 shares of the transportation company’s stock after purchasing an additional 41,574 shares during the period. Gateway Investment Advisers LLC’s holdings in Old Dominion Freight Line were worth $17,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ODFL. Aigen Investment Management LP purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $243,000. Acadian Asset Management LLC lifted its position in shares of Old Dominion Freight Line by 3,746.2% in the 3rd quarter. Acadian Asset Management LLC now owns 6,500 shares of the transportation company’s stock worth $2,656,000 after purchasing an additional 6,331 shares during the period. LPL Financial LLC lifted its position in Old Dominion Freight Line by 11.8% during the 3rd quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock valued at $17,832,000 after acquiring an additional 4,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $2,584,000. Finally, Federated Hermes Inc. lifted its position in Old Dominion Freight Line by 5,762.0% during the 3rd quarter. Federated Hermes Inc. now owns 30,658 shares of the transportation company’s stock valued at $12,543,000 after acquiring an additional 30,135 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, May 8th. Barclays lowered their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Bank of America lowered their price target on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $201.18.

Old Dominion Freight Line Stock Down 0.7 %

ODFL opened at $174.85 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $181.20 and a 200-day moving average price of $200.46. Old Dominion Freight Line, Inc. has a twelve month low of $163.30 and a twelve month high of $227.80. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 2.29 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.